Jordan’s Sowt acquires UAE podcasting company Finyal

Sowt Media, a Jordan-based podcasting platform that provides audio content to Arabic speakers worldwide, has acquired a Dubai-based podcast production company final media.

The move will strengthen Sowt’s content, audience and business opportunities, the company said in a statement Monday.

The acquisition was funded by the New York-registered nonprofit Sowt and Media Development Investment Fund (MDIF), the company said, without disclosing transaction details.

“This acquisition marks a major step forward for the MENA audio industry [Middle East and North Africa] and Sowt,” said its chief executive Ramsey G Tesdell.

“We are excited about the potential growth that comes with joining forces with Finyal [to] Listeners…we are proud of what Sowt has accomplished and excited about what lies ahead,” Mr Tesdell said.

Founded in 2016, Amman-based Sowt (which means speech or sound in Arabic) produces podcasts, audiobooks and audio articles focused on Arabic-speaking audiences.

Some of its originals, including Eib, Domtak, Manbet, Matryoshka and Almostajad, have been featured in international media and topped podcast charts on services such as Apple Podcasts, Anghami and Deezer.

According to Magnit, the MENA region recorded 33 exits in the first half of the year. The UAE exported the largest number of exports (10), followed by Egypt (9) and Saudi Arabia (5).

According to market research and consulting firm Grand View Research, the global podcasting market size is expected to grow at a CAGR of 31.1% from $11.5 billion in 2020 to 2021-2028.

Finyal co-founder and CEO Leila Hamadeh said the acquisition marks a “significant milestone” in the evolution of the Mena podcast industry.

“We’re very proud of all the work we’ve done to create Finyal Media’s award-winning podcast, and we think Sowt’s incredible portfolio of content is a perfect fit for our show,” Ms Hamadeh said.

Dubai-based Finyal Media produces some of the top Arabic podcast fiction and branded content. Its leading podcasts include 1001 Nights, Juha, Sindibad, Al Silah and The Basement.

“Sowt is clearly a leader in Arabic-language podcasting, producing original, high-quality content, and we have long admired their work,” said Bilal Randeree, MDIF Program Director for Africa and MENA.

“Sowt has assembled a young and talented team that brings together the background and skills that allow them to continue to innovate and experiment in the field, and we look forward to working with the company as it continues to expand its scope of work.”

Updated: September 12, 2022 1:32pm